Fuel Price hikes Today: Petrol price trekked by 59 paise per litre, diesel by 58 paise.

Petrol, Diesel Price Today: Petrol price was increased by 59 paise per litre and diesel by 58 paise per litre. Consequently increased seven times price of petrol and diesel has now gone upto Rs 3.8 and Rs  4 respectively. 

As the prices has increased seven times in a row in an interval of 82 days, the revised rates increased drastically. The price of petrol increased by 59 paise and diesel price increased by 58 paise. This will lead to huge problems in the state at the time of pandemic. Now the revised rates of petrol has climbed upto Rs 3.9 per litre whereas the revised rate of diesel also climbed upto Rs 4 per litre.

As per the information from state oil marketing companies, the price in Delhi rised to Rs 75.16 per litre from  Rs 74.57 per litre. And price of Diesel in Delhi rised to Rs 73.39 per litre from Rs 72.81.

The rates has increased throughout the states of India. There is a difference in rates accross the country as in different states,the local sale tax or VAT is different in different states.The Oil company started revising prices of Oil.

On mid of March 2020, the government increased excised duty on petrol and diesel, the rate of petrol and diesel  are fixed and imposed. The government  also start to increase the excise duty on petrol and diesel to make their extra finances.

As the big companies like Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL),  as a replacement of passing on the excise duty increases to customers they adjusted them against the fall in the retail rates that was warranted due to the decline in international oil prices.